Did checking / savings accounts used to automatically close if they went to zero???

[basketball 2008]

An older person told me that savings accounts automatically closed if the balance went to $0.00.
Did this used to be the case?

[v b]

Yes. And it caused me a real nightmare one time.

I went into the bank to close the account. They asked what checks I still had outstanding and left that amount in the account. Don't worry, when it hits zero it closes.

One check was late, so I got smacked with low-balance fees and then when the check *did* come in, it was NSF.

I go back to the bank. Oh, sorry, we'll put the money in, come back tomorrow.

I go back tomorrow. Is this a *new* account?

I go back again, get a bank check for the money and go to the lobby to cash it. The clerk had made a typo in my name and the brand new teller refused to cash it because the name on the check didn't match my ID. I flipped the check over, micro-printed pay to the order of me, signed it with bad sig and handed it back over. 'You don't have to be so testy.'

And then I think they actually paid me 50 cents of interest and REOPENED it one more time.

[Cliff]

I had one many years ago that did that, but none of my accounts in the last 10-years have. I think the bank makes money from opened accounts (regardless of balance) so they no longer automatically close them.

[kapn]

No..............but you will be charged fees..........under balance..........

[sucka for love]

No, but you may be charged fees!!!